Ted Baker Group revenue rises 14.2 percent

Ted Baker announced a 14.2 percent increase in group revenue for the 19 week period from January 29, 2017 to June 10, 2017, compared to the same period last year. Total retail sales for the period increased by 14.3 percent or 8.4 percent in constant currency. The company said, ecommerce business continued to perform well with sales increasing 35.9 percent or 32.3 percent in constant currency.

Commenting on the trading update, Ray Kelvin CBE, Founder and Chief Executive said in a statement, "This continued good performance across all of our distribution channels is a reflection of the strength and appeal of Ted Baker as a global lifestyle brand.”

Ted Baker continues retail expansion

Ted Baker added that the global expansion of the brand continued with openings in Los Angeles, Paris, and Shanghai, its first Dutch outlet in Roermond and further concession openings in department stores in France, Germany, Japan, South Korea, the Netherlands and the UK. The company also relocated its Miami Aventura and Tokyo stores. Average retail square footage rose by 4.9 percent during the period under review.

Wholesale sales for the period increased 13.8 percent or 8.9 percent in constant currency, which the company said, reflected good performances from both its UK and North American businesses. The company continues to anticipate achieving high single digit growth in constant currency in the wholesale business for the full year.

Both retail and wholesale gross margins were in line with the company’s expectations. Product and territorial licensees also continued to perform well, reflecting the global strength and appeal of the brand with licensed store openings in Dubai, Kuwait and Mexico.

Picture:Ted Baker website